| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
Since May 27, the single European currency has appreciated about 1.33% in value against the Canadian Dollar. The currency pair tested the 23.60% Fibonacci retracement level at 1.5122.
Everything being equal, it is likely that the EUR/CAD exchange rate will continue to gain strength within this week's trading sessions. The potential target will be at 1.5182.
However, it is likely that the currency exchange rate makes a brief retracement towards a support cluster formed by the 50.00% Fibonacci retracement level and the combination of the 100– and 200-hour SMAs at 1.5054 in the short-term.